Amazon Web Services has unveiled two new distributed ledger services one blockchain-based and the other a fully-managed ledger database.
The blockchain service, Amazon Managed Blockchain is a fully managed service.
AWS claims its blockchain makes it easy and cost-effective to create, manage, and scale blockchain networks for multiple parties to transact in a decentralised manner without the need for a centralised, trusted authority.
The blockchain service and the new Quantum Ledger Database (QLDB) were unveiled at its AWS re:Invent annual user conference.
Amazon said the QLDB is a new class of database that provides a transparent, immutable, and cryptographically verifiable ledger that customers can use to build applications that act as a system of record, where multiple parties are transacting within a centralised, trusted entity.
It’s QLDB removes the need to build complex audit functionality into a relational database or rely on the ledger capabilities of a blockchain framework.
Shawn Bice, Vice President, Nonrelational Databases at AWS said, “Earlier this year, when we started talking to customers about what they needed from a blockchain solution, we realised that the Amazon QLDB’s ledger technology met a lot of their requirements.
“They wanted a centrally-owned ledger that provided an immutable way to log the transactions history of their applications and was transparent to all the parties with whom they were interacting. So, today we’re offering an immutable, transparent, and cryptographically verifiable ledger, based on the same one that AWS teams have been using for years at scale, as a fully managed service.”
Amazon Managed Blockchain
Amazon Managed Blockchain supports two popular open source blockchain frameworks, Ethereum and Hyperledger Fabric, and setting up a blockchain network is as easy as a few clicks in the AWS Management Console.
Rahul Pathak, General Manager, Amazon Blockchain at AWS said, “Many of our customers want to build applications where multiple parties can execute transactions without a central, trusted authority, and they also need to create a blockchain network.
“Building a scalable blockchain network with existing technologies is just too hard today, and that’s why customers pay expensive consultants to help them.
“Amazon Managed Blockchain eliminates the muck involved in setting up a network, adding and removing members, and scaling to meet application demands. Customers can use either Ethereum or Hyperledger Fabric, the two most popular blockchain frameworks, and get a functioning blockchain network set up with just a few clicks.”
Amazon Managed Blockchain contains a voting API that allows network members to quickly vote to add or remove members. And, as application usage grows, customers can add more capacity to the blockchain network with a simple API call.
Amazon Managed Blockchain offers a range of instances with different combinations of compute and memory capacity to give customers the ability to choose the right mix of resources for their blockchain applications.
Unlike existing blockchain technologies that require custom development to extract blockchain network activity data, Amazon Managed Blockchain makes it easy to replicate transactions to Amazon QLDB. This gives customers the ability to gain advanced insights on how to optimize the blockchain network by querying the change history of their network.